These bills have been unanimously approved by the National Assembly, but they will officially begin to regulate the industry on November 1, 2018. As of November 1, potential licensees and issuers will officially begin operations under the new Virtual Assets Act. Prior to this, VFA service providers (including cryptocurrency exchanges and ICO issuers) may begin to provide services in an unregulated manner, which is not illegal. The VFA Service Provider will then comply with the laws and applicable regulations promulgated by the MFSA for the following year.
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